With the exponential growth of the Metaverse and the Gamefi space along with their duel focus on non-fungible tokens (NFTs), it’s no surprise that nearly every blockchain and distributed ledger tech project are actively engaged in developing and launching their own entries into or versions of the Metaverse. Ethereum scaling solution Polygon has been actively developing and expanding on its GameFi and NFT strategy, creating an extensive range of options for building and connecting blockchains and decentralized applications (dApps) while taking the initiative a step further by establishing Polygon Studios, an independent branch that’s dedicated to blockchain gaming and NFTs.
Category Archives: Altcoins
Its dAppening! Ethereum Layer 2 Goes Live On Binance
As noted by the widely popular crypto analyst Lark Davis, crypto exchange Binance has started to allow users to make direct withdrawals to Layer Two Ethereum Networks. Binance first announced plans to integrate the Arbitrum One Network and simultaneously open deposits for ETH on Arbitrum One Layer 2 back in November of 2021. After the most recent developments, users now have the ability to make withdrawals as well as deposit ETH to their Binance accounts using the Arbitrum One Layer 2 solution.
Moonbeam Launches The First-Ever Fully Operational Parachain On Polkadot
Moonbeam, an Ethereum-compatible smart contract platform built on one of Polkadot’s parachain slots, announced the completion of its launch process, taking home the honors of being the first fully operational parachain on the Polkadot network.
Weekend Feeding Frenzy As Crypto Whales Feast, Acquire 28M MATIC Tokens Worth $57M In The Past 48 Hours
MATIC is an Ethereum token used to power the Polygon Network, a scaling solution for Ethereum with aims to provide faster, easier, and less expensive transactions than rival networks. The MATIC token is used to pay for all transaction fees and is needed to participate in proof-of-stake consensus and has been in high demand over the weekend. The cryptocurrency tracking outfit Whale Alert just released information that an unregistered owner just transferred 2, 674,144 MATIC tokens worth almost $6 million to the Binance exchange. When added to the amount of MATIC moved by whales over the weekend, it adds up to a combined 25.4 million tokens changing hands for the Polygon blockchain.
China Launches A Pilot Program For Their Digital Yuan Wallet e-CNY
The PBOC, the Central Bank of China, has launched pilot versions of its digital yuan wallet application e-CNY for both Android and iOS as the country’s central bank steps up its push to develop its own digital currency.
Polygon Hits All-Time High, Surpasses Ethereum Network In Several Key Areas
Polygon (MATIC), a layer two network designed for scaling and application infrastructure development on the Ethereum (ETH) network, was one of the most popular digital assets throughout the entire crypto market in December. From a spike in active addresses holding or trading MATIC, to Polygon’s $1 billion investment into zero-knowledge technology, co-launching a $200 million Web 3.0 social media initiative, to being utilized by Opera’s web browser to bring its decentralized apps to a wider audience, the future looks incredibly bright for the MATIC network.
Uniswap V3 Contracts Go Live On Polygon As MATIC Experiences Increased Gains While Approaching All-Time Highs
Polygon (MATIC) announced on its official site that following a community vote goEthereum’s flagship project, Uniswap, now has its V3 contracts live on the layer-two scaling solution with benefits including lower gas fees, faster transactions, and increased users among several others. Support for Polygon has also been integrated with the AMM’s (automated market maker) official interface.
Into The Petaverse: Tezos-Based DOGAMÍ Secures $6M In Fresh Funding
The first to market play-to-earn NFT game running on Tezos (XTZ) DOGAMI, announced via a recent press release that they have secured $6M in a funding round with investments from leading names Animoca Brands, Ubisoft, and The Sandbox (SAND).
Solana Struggles For Solid Support Levels As Recent Gains Go Red
Solana (SOL) has experienced a dramatic reduction in valuation over the past month. After reaching a high of $243.56, SOL is now struggling to stay above the major support level of $170 and the bears are currently in firm control yet again after a false breakout.
The Crypto Market Is Reeling As The Three Largest Tokens Plunge On Fresh Concerns
The crypto market started out the new week by continuing its recent negative trend that has dragged the broader market down. The three largest cryptocurrencies in terms of market capitalization, Bitcoin Ethereum, and Binance, are all moving lower. During the past 24 hours of trading, all three tokens are down between three and five percent and the overall crypto market has seen a decline of 3.6%.